Roku beat Wall Street estimates for the fourth quarter, hitting new highs in active accounts and revenue per user, though an acquisition in the period created a loss of 13 cents per share. Total re…
beat Wall Street estimates for the fourth quarter, hitting new highs in active accounts and revenue per user, though an acquisition in the period created a loss of 13 cents per share.
Roku acquired ad-tech firm Dataxu for $150 million last fall, so analysts had been bracing for higher overhead costs to hit the company’s results. Over the long haul, management sees the deal as a key revenue driver given the company’s increasing focus on advertising.Active accounts also came in ahead of estimates, with 4.6 million added in the quarter giving Roku 36.9 million as of the end of 2019.
The company has been seen by investors as something of a proxy for the boom in streaming. Unlike partisans in the so-called “streaming wars,” which have heated up thanks to new offerings by Disney, Apple and soon NBCUniversal and WarnerMedia, Roku has benefited from the overall migration of viewing. Its interface, for example, is now in more than one-third of all smart TVs in the U.S. via licensing deals.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Roku stock rallies further after upbeat forecastRoku Inc. shares surged 8% in after-hours trading Thursday after the company topped revenue expectations and gave an upbeat top-line forecast.
Read more »
PepsiCo earnings top Wall Street estimatesPepsiCo reported earnings before the bell Thursday.
Read more »
'A true desecration': Sacred Native American site blasted for Trump border wallCrews have been blasting the hillside at Organ Pipe Cactus National Monument in Arizona for sections of the federal government&39;s barrier.
Read more »
Stocks open lower on Wall Street as virus cases spikeU.S. stocks fell in early trading Thursday as China reported a spike in cases of the new virus that is threatening to crimp economic growth and hurt businesses worldwide
Read more »
Pentagon to shift $3.8B for fighter planes, ships toward border wallThe shift in funding marks a new phase for the administration, which until now had used money set for military construction and counterdrug operations and not combat equipment.
Read more »
Pentagon plans to shift $3.8 billion in military funding to build border wallThe Pentagon plans to divert $3.8B in military funding to pay for the construction of hundreds more miles of the southern border wall, a notice sent to Congress Thursday shows.
Read more »